Md. Code Regs. 31.03.12.03

Current through Register Vol. 51, No. 22, November 1, 2024

Section 31.03.12.03 - Written Consent Required

A. Scope. This regulation applies to the following individuals:

(1) An officer, director, or employee of a domestic insurer;

(2) An individual who performs substantial insurance-related activities for a domestic insurer or a resident licensee, including:

(a) An insurance producer;

(b) A third-party administrator;

(c) An independent contractor;

(d) An actuary;

(e) A reinsurer;

(f) An underwriter; and

(g) An adjuster; and

(3) An individual who maintains a resident license or certificate of qualification in Maryland, including:

(a) An insurance producer;

(b) A managing general agent;

(c) An adjuster;

(d) A SHOP exchange navigator; and

(e) An individual exchange navigator.

B. Consent Required. If an individual to whom this regulation applies has been convicted of a felony involving dishonesty, a felony involving breach of trust, or a violation of the federal Violent Crime Control and Law Enforcement Act of 1994, the individual may not engage in the business of insurance affecting interstate commerce in Maryland unless the individual obtains the written consent of the Insurance Commissioner.

C. Exceptions. Notwithstanding §B of this regulation, an individual is not required to obtain the written consent of the Insurance Commissioner if:

(1) The conviction of the individual has been expunged; or

(2) The individual has been pardoned for the conviction.

Md. Code Regs. 31.03.12.03

Regulation .03A amended effective April 15, 2013 (40:7 Md. R. 613)